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Effective dates and transition


A joint IASB-FASB project seeking views on when new financial reporting standards resulting primarily from the Boards' work to improve and achieve convergence of International Financial Reporting Standards (IFRSs) and US generally accepted accounting principles (GAAP) should become effective.


Current status of the project

This project has effectively been discontinued.  The IASB and FASB released Request for Views on Effective Dates and Transition Methods on 19 October 2010.  The Boards are considered the feedback received in finalising their various high-priority projects.


Project milestones

19 October 2010 Request for Views on Effective Dates and Transition Methods published Comment deadline 31 January 2011

Related Discussions

  • Effective date and transition method disclosure considerations

  • May 23, 2012

  • The Board addressed a number of different topics related to disclosure considerations when discussing effective dates and transition guidance for adoption of new or amended IFRSs. The topics that were discussed are the direct result of questions received by IASB staff in connection with IAS 8, 'Accounting Policies, Changes in Accounting Estimates, and Errors'.

  • Effective dates

  • Mar 20, 2012

  • In the light of the potential major changes in the financial statements resulting from the IASB's current major projects, some constituents noted that it might be helpful if the Board were to consider providing additional guidance on the disclosures required on changes in accounting policies resulting from new IFRSs.

  • Effective dates

  • Jul 21, 2011

  • The IASB and FASB considered (1) whether to re-expose the proposals in the leasing project, (2) a detailed assessment of feedback received on effective dates and transitional disclosures and (3) an effective date for the revenue recognition project.

  • Consolidation and joint arrangements – Effective dates and transition

  • Feb 15, 2011

  • The IASB considered the effective date and early application of the forthcoming IFRS 10, IFRS 11, IFRS 12, IAS 27 (revised 2011) and IAS 28 (revised 2011), unanimously agreeing to require an effective date of 1 January 2013 with early application permitted if all five standards are early adopted and limited retrospective application.

  • Effective dates and transition

  • Oct 19, 2010

  • The IASB discussed the publication of the request for views as a separate consultation document on effective dates and transition of the forthcoming IFRSs related to the convergence efforts.